Eastern Asia: Amino Resin Market 2024

Amino Resin Market Size in Eastern Asia

In 2022, the East Asian amino resin market decreased by -0.3% to $X, falling for the fourth year in a row after three years of growth. The total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -32.3% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Amino Resin Production in Eastern Asia

In value terms, amino resin production shrank modestly to $X in 2022 estimated in export price. The total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 46% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Amino Resin Exports

Exports in Eastern Asia

In 2022, approx. X tons of amino resins were exported in Eastern Asia; waning by -2.9% compared with 2021. Over the period under review, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 44% against the previous year. As a result, the exports reached the peak of X tons, and then fell modestly in the following year.

In value terms, amino resin exports contracted slightly to $X in 2022. In general, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 118% against the previous year. As a result, the exports attained the peak of $X, and then contracted slightly in the following year.

Exports by Country

China represented the largest exporting country with an export of around X tons, which reached 66% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 21% share, followed by Japan (13%).

China was also the fastest-growing in terms of the amino resins exports, with a CAGR of +16.1% from 2012 to 2022. At the same time, South Korea (+4.1%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. While the share of China (+32 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-11.2 p.p.) and Japan (-14.8 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest amino resin supplier in Eastern Asia, comprising 67% of total exports. The second position in the ranking was taken by South Korea ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China totaled +17.6%. In the other countries, the average annual rates were as follows: South Korea (+4.4% per year) and Japan (-0.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 51%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.3%), while the other leaders experienced mixed trends in the export price figures.

Amino Resin Imports

Imports in Eastern Asia

In 2022, purchases abroad of amino resins decreased by -3.2% to X tons, falling for the second year in a row after four years of growth. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, amino resin imports fell to $X in 2022. Total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +21.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 50%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the major importer of amino resins, constituting 60% of total imports. South Korea (X tons) ranks second in terms of the total imports with a 19% share, followed by Taiwan (Chinese) (11%) and Japan (8.9%).

From 2012 to 2022, average annual rates of growth with regard to amino resin imports into China stood at +2.4%. At the same time, South Korea (+8.3%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.3% from 2012-2022. Taiwan (Chinese) and Japan experienced a relatively flat trend pattern. While the share of South Korea (+7.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-1.7 p.p.), Japan (-1.9 p.p.) and Taiwan (Chinese) (-2.4 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported amino resins in Eastern Asia, comprising 61% of total imports. The second position in the ranking was taken by South Korea ($X), with a 20% share of total imports. It was followed by Japan, with a 9.7% share.

In China, amino resin imports expanded at an average annual rate of +1.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+7.8% per year) and Japan (+0.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, falling by -4.4% against the previous year. In general, the import price saw a slight setback. The most prominent rate of growth was recorded in 2021 an increase of 47% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :